Celo floats one-time 160 million token grant to Opera to strengthen longterm alliance
Celo proposes a one-time 160 million CELO token grant to Opera to transition it from a distribution partner to a network stakeholder.Summary
The Ethereum Layer 2 network Celo is proposing a one-time grant of 160 million CELO tokens, equivalent to 16% of the maximum supply and valued around $12 million, to the web browser company Opera, pending community approval. This move aims to strengthen their long-term alliance by transforming Opera from a simple distribution partner into a committed network stakeholder, making it one of the largest CELO holders. The grant, which comes from Celo's treasury and will increase circulating supply, requires Opera to commit not to sell the tokens for three years. Celo also proposed capping the voting power associated with these tokens at 10% of total staked CELO to maintain governance balance. This partnership builds upon an existing agreement where Celo pays Opera quarterly grants to expand the MiniPay ecosystem, which has seen significant adoption, facilitating over 400 million transactions and growing to over 14 million users.
(Source：The Block)